Shannon Foynes Port Company Incurred Substantial Legal Costs Over Court Action

9th July 2024

Afloat.ie Team

Pretax profits at Shannon Foynes Port Company increased last year by 14 per cent to €4.8 million, the annual report states

Substantial legal costs were incurred by the Shannon Foynes Port Company last year, following a successful court action by its chief executive Pat Keating.

As The Irish Times reports, a sum of €357,008 in legal costs is recorded in its 2023 annual report.

The High Court had ruled almost two years ago that the company would have to pay Mr Keating €373,339 unpaid bonuses from 2010 to 2017.

Mr Justice Mark Sanfey had ruled that a failure by the port company directors to use their discretion to pay the bonus “constitutes a breach by the company of the contract which has caused damage and loss to Mr Keating”.

Pretax profits at Shannon Foynes Port Company increased last year by 14 per cent to €4.8 million, the annual report states.

Read The Irish Times here

Published in Ports & Shipping, Shannon Estuary

Published in Ports & Shipping

Tagged under

Shannon Foynes Port Company

About The Author

Afloat.ie Team

Email The Author

Afloat.ie is Ireland's dedicated marine journalism team.

Have you got a story for our reporters? Email us here.

We've got a favour to ask

More people are reading Afloat.ie than ever thanks to the power of the internet but we're in stormy seas because advertising revenues across the media are falling fast. Unlike many news sites, we haven't put up a paywall because we want to keep our marine journalism open.

Afloat.ie is Ireland's only full-time marine journalism team and it takes time, money and hard work to produce our content.

So you can see why we need to ask for your help.

If everyone chipped in, we can enhance our coverage and our future would be more secure. You can help us through a small donation. Thank you.